Japanese Prime Minister Naoto Kan ’s policies to contain a record public debt and prevent the yen’s surge may help the nation avert a selloff of bonds and stocks, according to Daiwa Institute of Research Ltd.
Haruhiko Kuroda yesterday followed in the footsteps of Ben S. Bernanke and Mario Draghi as he swung the Bank of Japan from incremental moves to unprecedented stimulus in his first policy meeting as governor.
Japan, Thailand’s biggest foreign investor, may also be the largest overseas economic victim of record floods forcing companies including Toyota Motor Co., Hitachi Ltd. and Canon Inc. to halt output in the country.
Japanese bonds completed a second weekly loss as U.S. policy makers mulled whether another round of debt purchases was necessary, reducing pressure on the Bank of Japan to ease monetary policy further.
Thailand’s worst floods in more than 50 years may drag down full-year profits of listed Japanese non- financial companies by 3.9 percent as production and operations are impacted, said to SMBC Nikko Securities Inc.